Two days in a row of big gains put shares of the electric-car maker over $1,600. Here's what investors should know.
Taking a page from Tesla's playbook, Volkswagen (OTC: VWAGY) said that it plans to begin developing electric vehicle batteries -- including battery cells -- at its site in Chattanooga, Tennessee. The German auto giant said that it will soon break ground on a new high-voltage laboratory for its engineering center in Chattanooga. The laboratory, which is expected to be up and running in the second quarter of 2021, will be tasked with developing and testing electric vehicle cells and battery packs for several upcoming Volkswagen electric vehicles aimed at the U.S. market.
Chinese internet giant Tencent (OTC: TCEHY) reported its second-quarter earnings on Wednesday, Aug. 12, delivering strong results and seeing its stock rise over 3.1% in the aftermath, adding to its already hefty year-to-date gains. Tencent bounced back after its stock sold off in early August, after the Trump administration targeted the company's wildly popular social media platform, WeChat. Meanwhile, while WeChat delivered solid growth in the second quarter, Tencent's overall results were powered by its dominant online games segment, as much of the world was holed up in quarantine through June.